ENERG-IR: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ENERG-IR
Largest movements
- Cash +€172,067
up €172,067 (+189%), from €90,804 to €262,871
mainly Net result for the year (+€112,444) and Tax, wage and social debts (+€88,274)
- Tangible fixed assets -€46,898
down €46,898 (-3.5%), from €1.4m to €1.3m
of which Land and buildings: -€37,277
- Tax, wage and social debts +€88,274
up €88,274 (+186%), from €47,470 to €135,744
of which Taxes: +€79,110
- Profit (loss) carried forward +€78,158
up €78,158 (+17.9%), from €436,941 to €515,099
- Debts after one year -€52,075
down €52,075 (-4.9%), from €1.1m to €1.0m
- Reserves +€20,000
up €20,000 (+91.5%), from €21,860 to €41,860
of which Distributable reserves: +€20,000
- Gross operating margin +€200,509
up €200,509 (+33.1%), from €605,029 to €805,538
- Staff costs +€137,824
up €137,824 (+35.2%), from €391,866 to €529,690
- Other operating charges -€51,238
down €51,238 (-87.5%), from €58,581 to €7,343
- Financial charges +€36,196
up €36,196 (+422%), from €8,580 to €44,776
- Taxes +€31,751
up €31,751 (+280%), from €11,357 to €43,108
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,710,278 | €1,846,102 | +€135,824 | +7.9% |
| Fixed assets | 21/28 | €1,354,809 | €1,307,911 | -€46,898 | -3.5% |
| Tangible fixed assets | 22/27 | €1,353,459 | €1,306,561 | -€46,898 | -3.5% |
| Land and buildings | 22 | €1,313,714 | €1,276,437 | -€37,277 | -2.8% |
| Furniture and vehicles | 24 | €39,745 | €30,124 | -€9,621 | -24.2% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €355,469 | €538,191 | +€182,722 | +51.4% |
| Amounts receivable within one year | 40/41 | €163,415 | €172,404 | +€8,989 | +5.5% |
| Trade receivables | 40 | €50,603 | €171,927 | +€121,324 | +240% |
| Other amounts receivable | 41 | €112,812 | €477 | -€112,335 | -99.6% |
| Current investments | 50/53 | €77,625 | €77,625 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €90,804 | €262,871 | +€172,067 | +189% |
| Deferred charges and accrued income | 490/1 | €23,625 | €25,291 | +€1,666 | +7.1% |
| Total equity and liabilities | 10/49 | €1,710,278 | €1,846,102 | +€135,824 | +7.9% |
| Equity | 10/15 | €477,401 | €575,559 | +€98,158 | +20.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,860 | €41,860 | +€20,000 | +91.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €40,000 | +€20,000 | +100% |
| Profit (loss) carried forward | 14 | €436,941 | €515,099 | +€78,158 | +17.9% |
| Amounts payable | 17/49 | €1,232,877 | €1,270,543 | +€37,666 | +3.1% |
| Amounts payable after more than one year | 17 | €1,064,335 | €1,012,260 | -€52,075 | -4.9% |
| Financial debts | 170/4 | €1,064,335 | €1,012,260 | -€52,075 | -4.9% |
| Amounts payable within one year | 42/48 | €152,993 | €258,283 | +€105,290 | +68.8% |
| Current portion of amounts payable after more than one year | 42 | €67,607 | €65,289 | -€2,318 | -3.4% |
| Financial debts | 43 | €2,494 | - | -€2,494 | |
| Credit institutions | 430/8 | €2,494 | - | -€2,494 | |
| Trade debts | 44 | €34,422 | €41,314 | +€6,892 | +20.0% |
| Suppliers | 440/4 | €33,367 | €41,019 | +€7,652 | +22.9% |
| Bills of exchange payable | 441 | €1,055 | €295 | -€760 | -72.0% |
| Advances received on contracts in progress | 46 | €1,000 | €1,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €47,470 | €135,744 | +€88,274 | +186% |
| Taxes | 450/3 | - | €79,110 | +€79,110 | |
| Remuneration and social security | 454/9 | €47,470 | €56,634 | +€9,164 | +19.3% |
| Other amounts payable | 47/48 | - | €14,936 | +€14,936 | |
| Accrued charges and deferred income | 492/3 | €15,549 | - | -€15,549 | |
| Remuneration, social security and pensions | 62 | €391,866 | €529,690 | +€137,824 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,076 | €70,497 | +€4,421 | +6.7% |
| Other operating charges | 640/8 | €58,581 | €7,343 | -€51,238 | -87.5% |
| Non-recurring operating charges | 66A | €7,395 | - | -€7,395 | |
| Gross operating margin | 9900 | €605,029 | €805,538 | +€200,509 | +33.1% |
| Operating profit (loss) | 9901 | €81,111 | €198,008 | +€116,897 | +144% |
| Financial income | 75/76B | €2,387 | €2,320 | -€67 | -2.8% |
| Recurring financial income | 75 | €2,387 | €2,320 | -€67 | -2.8% |
| Financial charges | 65/66B | €8,580 | €44,776 | +€36,196 | +422% |
| Recurring financial charges | 65 | €8,580 | €44,776 | +€36,196 | +422% |
| Profit (loss) for the period before taxes | 9903 | €74,918 | €155,552 | +€80,634 | +108% |
| Income taxes | 67/77 | €11,357 | €43,108 | +€31,751 | +280% |
| Profit (loss) for the period | 9904 | €63,561 | €112,444 | +€48,883 | +76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €63,561 | €112,444 | +€48,883 | +76.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.